N.Y. State Finance Law 242 – Monitoring and reporting
§ 242. Monitoring and reporting. 1. The corporation shall require periodic reports or other information the corporation deems necessary from lenders and borrowers on the status of the linked loan and the eligible projects to ensure compliance with the provisions and the intent of this article.
Terms Used In N.Y. State Finance Law 242
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Corporation: means the New York state environmental facilities corporation, as continued by § 1282 of the public authorities law. See N.Y. State Finance Law 236
- Linked loan: means a loan for purposes of an eligible project, in an amount equal to a linked deposit and bearing interest at the linked loan interest rate. See N.Y. State Finance Law 236
2. On or before February first, two thousand ten, and annually thereafter, the corporation shall submit to the governor, the temporary president of the senate and the speaker of the assembly a report regarding the activities of the programs. Such report shall include, but shall not be limited to, the number and type of linked loans under each of the programs and the amount thereof; the number and type of lenders making linked loans and of borrowers receiving linked loans; the geographic distribution of such lenders and borrowers; as well as any information the corporation determines useful in evaluating the benefits of the programs.